India Poised to Be Top Six Business Travel Market by 2019

Published on : Wednesday, July 13, 2016

GBTA Final Logo_origThe Global Business Travel Association (GBTA) Foundation, the voice of the global business travel industry, today announced the results of its latest GBTA BTI™ Outlook – India report, a semi-annual analysis that relates unfolding economic events at home and abroad to their resulting impacts on India’s business travel market. The report, sponsored by Visa Inc., reveals continued double digit business travel spending growth for India, making it one of today’s fastest growing business travel markets in the world.

“If it continues on its current path, India is poised to be a world leader in business travel for decades to come,” said Gaurav Sundaram, GBTA India regional director. “The growth rate of business travel in India is on par with other leading industries in the country showing once again business travel playing an important role as a driver of economic growth and jobs.”

The GBTA Foundation report forecasts 10.7 percent growth in business travel spending in 2016, followed by another 10.2 percent in 2017 reaching $36.1 billion USD. India remains the 10th largest business travel market in the world, moving up five spots since 2000. GBTA expects India will continue to ascend the market rankings and is likely to jump four spots over the next five years, becoming the 6th largest business travel market in the world by the end of 2019. In fact, India is expected to leapfrog Brazil this year and could surpass both South Korea and Italy in 2017.

The report also shows business travel as one of the top growth sectors in India, growing at the same rate as high technology services and only slightly behind land and pipeline transport and real estate and business activities.

 

Additional highlights of the report include:

 

 
“The Government’s attempt to improve the ease of doing business in India combined with positive economic sentiment and globalization has resulted in the acceleration of growth in business travel to the country. The suite of Visa Commercial Cards and products make it faster, secure and convenient for businesses and corporates to streamline their expenses contributing to the increase in business travel related spending,” said TR Ramachandran, Group Country Manager India and South Asia, Visa.

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 wtm_london17
  • 03 itb-asia 2017
  • 12 TTF17
  • 13 Frontiers Forum 2017
  • 14 bltm 2017
  • 15 questexevent 2017
  • 16 TT Warsaw 2017
  • 17 hospitalityqatar 17
  • 17 worldmiceday 2017
  • 18 worldmiceday 2017
  • 19 Emitt 18
  • 19 IITM
  • 43 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com